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Cool off, Litecoin (LTC) May Drop To $60 Before Rallying to $110



  • Litecoin prices drop 10 percent
  • CoinBase teaming with Visa will drive adoption

Not only is CoinBase aggressively listing digital assets and departing from their cautious approach, but they are also busy partnering, opening doors allowing their users to spend their Litecoin balances thanks to their collaboration with Visa. Meanwhile, prices are dropping and may retest $70 and even $60 in a correction phase.

Litecoin Price Analysis

Fundamentals

The correlation between Bitcoin and Litecoin is direct. Although it may not be one according to math done by CoinPredictor, the correlation coefficient of their prices is 0.58. That’s more than 50 percent and is therefore significant. Therefore, any spike or drop of Bitcoin will likely force liquidation in Litecoin and many other coins. We saw that behavior last year, and even as prices recover, the light liquidity behind Litecoin means it is leading.

However, what is interesting are fundamental developments. Active wallet addresses are…





Read Full Story : NewsBTC

2019-04-11 17:00:56

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